Introduction

Synthetic sapphire (Al2O3), also called as Corundum, is a single crystal with superior chemical stability, mechanical property, and light transmission. Synthetic sapphire is one of the toughest of all identified oxide crystals. It is second in hardness after diamond. Additionally, it retains its high strength at high temperatures. Synthetic sapphire crystals have superior electrical and dielectric thermal properties. Synthetic sapphire is used in aggressive environments where reliability, optical transmission, and strength are required, which include UV and IR optics, watch glasses, watch crystals, and gauge, electrical insulators, thin film deposition, and transparent electronic substrates.

Synthetic Sapphire Market: Developments & Trends

Synthetic sapphire is a major industrial material due to its structural, optical, mechanical, thermal, and chemical properties. Easy availability of synthetic sapphire is driving its use in many industries such as electronics and medical. Demand for synthetic sapphire is increasing in the production of windows. Additionally, synthetic sapphire possesses good electrical insulating properties, as it is being widely used as a substrate for semiconducting circuits.

Consumer electronics industries are projected to create lucrative opportunity for synthetic sapphire manufacturers. Demand for synthetic sapphire is increasing from smartphone and other consumer electronics manufacturing industries. Manufacturers are focusing on developing synthetic sapphire that can be used in consumer electronic products due to the rise in production and demand for consumer electronics worldwide. Moreover, regulatory bodies such as the U.S. Federal Trade Commission have introduced specific guideline regarding sales of synthetic gems.

Synthetic Sapphire Market: Segmentation

The synthetic sapphire market can be segmented based on application, end-use industry, and region. In terms of application, the synthetic sapphire market can be classified into optics, substrates, display, and others. The optical segment accounted for a large share of the synthetic sapphire market in 2018, as synthetic sapphire is largely used in optical applications due to its excellent optical properties such as high strength, wear resistance, temperature stability, and chemical inertness.

Based on end-use industry, the synthetic sapphire market can be segregated into LEDs, semiconductors, medical devices, consumer electronics, and others. The LEDs segment is projected to constitute a dominant share of the synthetic sapphire market during forecast period due to high consumption of synthetic sapphire as an effective solution for improving product quality and cost management.  

Synthetic Sapphire Market: Regional Outlook

In terms of region, the global synthetic sapphire market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a key region of the global synthetic sapphire market. The region accounted for a dominant share of the global market, followed by Europe and North America. In terms of volume and value, Asia Pacific accounted for a major share of the global synthetic sapphire market due to high sales of products such as LEDs, semiconductors, and medical devices. The synthetic sapphire market in India, China, and Thailand is anticipated to expand at a rapid pace during the forecast period due to the rise in number of new constructions and infrastructure activities in these countries. This is expected to drive the demand for optical windows, which in turn, is anticipated to drive the synthetic sapphire market during the forecast period. In terms of production and consumption, North America is a key region for the global synthetic sapphire market due to the growth in industries such as electronics, medical, and medical devices, especially in the U.S. This is expected to fuel the synthetic sapphire market in the region during the forecast period. 

Synthetic Sapphire Market: Key Players

Key players operating in the global synthetic sapphire market include Rubicon Technology Inc., Kyocera Corporation, Saint Gobain, Schott AG, Monocrystal Inc., Crystalwise Technology Inc, Iljin Display Co Ltd, Namoki Group, Juropol sp. z.o.o., and Hansol Technics Co. Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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